ABSA Estate Department

Good day,

RE: ABSA Estate Department

My Father passed away in March 2021 and was a client and investor at ASBA bank who also appointed them as Executor to his estate. We went through all requirements and eventually in August 2021 the administration was appointed to an Estate Administrator. It was a simple estate with no bonds, businesses, cars, household items etc, just bank accounts, investments and your normal handful of creditors. After 12 months the distribution was approved and we could finally move closer to closure…. Upon distribution I noticed that R5000 was allocated towards SARS, but that a significant amount had been reserved to finalize SARS? We could not understand why in 12 months’ time a simple pensioners tax could not be finalized and why it was not part of the approved distribution process that was approved by the Master? We simply had to move on and accept the explanation given.

I eventually started to follow up again in September 2022 and was ignored until October 2022. The reply stated that the original Executor resigned and that a new one had to be appointed? I again followed up beginning of November and again was ignored. After a couple of mails I finally got feedback 2 weeks later with a new excuse. The new Executor has now been appointed and they have handed the estate to the DCA Group who would be in charge of the submissions to SARS. Submit tax finalization to SARS 20 months later? This is where the DCA group joined the communication in copied mails, no replies, no communication, no explanation, just a reference there in the background. The final feedback that I received on this matter was obtained with the next follow-up and this would now be that the DCA Group is waiting for an IRP5 from Momentum before they can submit.

The DCA Group were already in possession of the IT3(a) tax certificate for the 2022 book year at this stage , but they insisted that it had to be an IRP5 and that Momentum could only supply that to them early 2023. Unfortunately this was not in writing and they could also not provide me with the recording to prove this. Why would you want to wait for another financial year to pass in order to issue an IRP5 on an investment that only ran 21 days in the first month of the previous book year? Since I also was a Momentum Client at a stage I knew that this was normally a very quick generation on Momentums side and I decided to contact them directly. I was immediately assisted by a gentleman who again issued the IT3(a) tax certificate for me for the 21days the investment was still active in the 2022 book year and I forwarded this again to both ABSA and the DCA group. This mail from Momentum also confirmed that they can use the specific tax certificate issued and finalize the submissions to SARS.

That mail was send 6 weeks ago and if nothing is being done we are going to reach 24 months on a simple estate to be finalized with the one excuse after the other, no feedback or estimations one after the other. Even attempts to escalate and get senior personnel involved in the feedback failed.….

My question is the following: If a bank needs investments in order to lend money, and a bank can manage this money to a relative extend with certain time periods on fixed deposits etc, how do they manage death and more specifically if it is one of their investors and that money is not to be reinvested into the same institution?

Either way, it is a pity that while you are still a Client and entrust them with your last words, that a very insensitive Department steps up to assist you when you are no longer there.

Do I have a case for investigation or should I register my query with the Ombudsman? I have all the communication, documentation and reference numbers in writing in order to assist with any investigation or clarification into this matter.

Thanking you in advance.

Regards